Collecting consumer debt is always a challenge – it’s even more of a challenge after the borrower has passed away! Who can and can’t you contact? Do you know what you can and can’t say? What recourse do you have? Who is liable for the debt? Aren’t the decedent’s assets supposed to be used to pay debts? Who can make that happen? What happens to your collateral?

To clarify matters, the FTC issued rules that affect consumer lenders’ attempts to collect debts owed by deceased borrowers. However, those rules do not govern all lenders. Whether or not they directly apply to you, violations may still be used against you! Join us to learn more about the FTC rules and other important laws and concepts that affect the way you collect decedents’ accounts.

HIGHLIGHTS

When may you discuss the debt with someone who did not sign the credit agreement?

Difference between formal and informal estate administration, why it matters, and how to handle each

Options when decedents’ property is not used to pay their debts

When funds held on deposit may and may not be applied to a decedent’s unpaid debt

The financial institution’s rights regarding property pledged as collateral. What if the person who has it won’t release it?

The creditor’s rights when a relative or friend of the decedent has (or is living in) your collateral

Why some of a deceased borrower’s assets are beyond the reach of creditors

The Consumer Financial Protection Bureau’s role

TAKE-AWAY TOOLKIT

Sample letters to assist in collecting decedents’ accounts

Electronic training log

Quiz you can administer to measure staff learning and a separate answer key

Attendance verification for CE credits provided upon request.

WHO SHOULD ATTEND?

This informative session is for collection officers, collection support staff, management, loan officers, and other lending personnel.

Please note: The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone.

Eric North has represented the interests of consumer lending institutions as an attorney for over twenty-five years. His practice includes the representation of consumer lending institutions in court proceedings as well as counseling regarding dispute resolution, compliance, and contractual matters to help avoid litigation when possible and prevail in litigation when necessary. He has appeared in cases in federal and state courts – primarily in California, where he is licensed to practice, and before the Ninth Circuit Court of Appeals.

Prior to becoming an attorney, Eric worked within the consumer finance industry in management, lending, collections, and operations. In addition to practicing law, Eric devotes a significant portion of his time providing training to help consumer-lending institutions and their attorneys understand and comply with the laws that govern them.

THREE REGISTRATION OPTIONS

Note: All materials are subject to copyright. Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.

1. LIVE WEBINAR

The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone. Registrants receive a toll-free number and pass code that will allow entrance to the seminar. The session will be approximately 90 minutes, including question and answer sessions. Seminar materials, including instructions, PIN number, and handouts will be emailed to you prior to the broadcast. You will need the most-current version of Adobe Reader available free at www.adobe.com.

Convenient!

Listen to the
archived webinar on your

iPad

iPhone

Android

Instructions will be emailed with the archived webinar link.

2. ARCHIVED WEBINAR & FREE CD ROM*

Can’t attend the live webinar? The archived webinar is a recording of the live event, including audio, visuals, and handouts. We even provide the presenter’s email address so you may ask follow-up questions. Approximately one week prior to the webinar, you will receive an email with the archived webinar link. This webinar link can be viewed anytime 24/7, beginning 6 business days after the webinar and will expire 6 months after the live program date.

As an added bonus, you will also receive a FREE audio/visual CD ROM.* The CD ROM includes the original audio/visual presentation, the question and answer sessions, and the handouts. Use the archived webinar or this “off-the-shelf” training program for those that could not attend the live seminar and for future training.

The archived webinar (including the free CD ROM) may ONLY be ordered for 6 months following the webinar. Neither will be available after this time.